Missing payment

[baz36]

Hi,

been paying in to IVA since March 2007, all payments made on time, none missed.

Got another payment due 1/9/07 but today had to fork out £300 for new exhaust and tyres to car to get car through its MOT.

Mot £50
Exhaust £179
Tyres £71

Paid cash for it all but now dont know how were going to make our IVA payment of £289 on 1/9/07.

So called IP today, she said we can pay what we can, and that the amount we dont pay we have to make sure we add on to our payments and make up before our review on 7th March 2008. She said its no problem as long as we make the money up.

Is this usual practice,? felt really bad coz we have never missed a payment yet, but this expense was totally out of the blue.......

Is this common?

[s.b.w]

That's normal practice Baz, but don't get into the habit of letting it slip.

It's really easy to let these things mount up.

I usually agree to pay it back over 2 - 3 months, just as long as it's paid out by the next review meetingit'll be fine.

Good luck...

shaz

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[MelanieGiles]

Perfectly acceptable - and what a nice IP to have!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Adam Davies]

Hi
Most people in an IVA don,t get through it without a payment problem,I,m sure Catullus said something like that on this forum[?].As long as you can claw that underpayment back I can,t see a problem.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

I can vouch for that - and reckon over 75% of my own clients have at some stage missed at least one payment.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[catullus]

Quite correct. The one thing that IP's hate is hearing something out of the blue so keep them informed.

[Sadsack]

I too have missed payments - also due to unforseen circumstances. We do it through no real fault of our own. Wish I had a pretty understanding IP.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[iva_squirrel]

Hello Baz,

You have done the right thing by contacting your IP as soon as you could. Missing payments without permission is deemed a default of the IVA.

Good luck.



Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

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